HK Stock Market Move | NETEASE MUSIC (09899) rose by over 3%, with net revenue increasing by 6.6% year-on-year in the first quarter. Gross profit also increased by 7.6%.
NetEase Cloud Music (09899) surged over 3%, closing at 3.33% at the time of publication, reporting 117.8 Hong Kong dollars, with a trading volume of 31.7361 million Hong Kong dollars.
NETEASE MUSIC (09899) rose more than 3%, as of the press release, it increased by 3.33%, to 117.8 Hong Kong dollars, with a turnover of 317.361 million Hong Kong dollars.
On the news front, NETEASE MUSIC announced that its controlling shareholder, NetEase, disclosed its first quarter performance up to March 31, reporting a first-quarter net income of 2 billion yuan, an increase of 6.6% year-on-year. Gross profit was 730 million yuan, up 7.6% year-on-year. EB SECURITIES previously pointed out that the company continues to strengthen its differentiated content ecology, drive product innovation and AI empowerment: dual-wheel drive of copyright and original content; the continuous growth of independent musicians; AI product innovation enhances user experience.
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